Share Name Share Symbol Market Type
Porta Communicatio Ord GBP0.01 NEX:PTCM.GB NEX Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 2.00p 0.40p 11.60p - - - 0 16:30:05

Porta Communications PLC Issue of Equity

24/04/2018 3:10pm

UK Regulatory (RNS & others)


Porta Communicatio Ord GBP0.01 (NEX:PTCM.GB)
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RNS Number : 9707L

Porta Communications PLC

24 April 2018

24 April 2018

Porta Communications Plc

("Porta" or the "Company" or the "Group")

Issue of Equity

Porta Communications Plc (AIM: PTCM) announces that it has, conditional upon Admission, issued and allotted a total of 3,954,619 ordinary shares of 1p each in the capital of the Company ("Ordinary Shares") to two employees of the former PPS Group Limited ("PPS"), (the "Employees"), to satisfy the second half of their executive bonus arrangements.

PPS, now the Engage practice within Newgate Communications Limited, is Porta's wholly owned consultancy that specialises in reputation management, community and political engagement and regional PR and advises on projects such as complex property, infrastructure and energy developments.

As announced on 14 March 2017, a total gross amount of GBP300,000 (the "Bonus") would be payable in cash or shares to the Employees, and at that time the first half of the Bonus was satisfied by the issue and allotment of Ordinary Shares to the Employees. The Company has now elected to pay the second half of the Bonus of GBP150,000 (less applicable taxes) through the issue of Ordinary Shares. Consequently, the Company is issuing 3,954,619 Ordinary Shares to the Employees in full and final settlement of the Company's obligation to pay the Bonus, calculated with reference to the average middle market closing price of the Company's Ordinary Shares for the five business days ending 12 March 2018.

Application for admission to trading

Application has been made for the 3,954,619 Ordinary Shares, which rank pari passu with the Company's existing issued Ordinary Shares, to be admitted to trading on the AIM Market of the London Stock Exchange ("AIM"). Dealings on AIM are expected to commence at 8:00 a.m. on or around 30 April 2018 ("Admission").

Total Voting Rights

For the purposes of the Financial Conduct Authority's Disclosure Guidance and Transparency Rules ("DTRs"), following Admission the issued ordinary share capital of the Company will comprise 460,890,669 Ordinary Shares with voting rights attached (one vote per share). The Company does not hold any shares in treasury. This figure of 460,890,669 may be used by the Company's shareholders as the denominator for the calculation by which they will determine whether they are required to notify their interest in, or a change to their interest in the share capital of Porta under the DTRs.

-- ends --

Enquiries

Porta Communications Plc

Gene Golembiewski, Executive Director

www.portacomms.com

+44 (0) 20 7680 6500

Grant Thornton UK LLP (Nominated Adviser)

Samantha Harrison

+44 (0) 207 383 5100

N+1 Singer (Broker)

James Maxwell

Lauren Kettle

+44 (0) 20 7496 3000

Newgate Communications (Media Enquiries)

Bob Huxford

Adam Lloyd

James Ash

+44 (0) 20 7680 6550

porta@newgatecomms.com

Notes to Editors:

Porta is a fully integrated communications and marketing group with specialisms including financial, corporate and consumer public relations, public affairs and research and multi-capability marketing, brand and creative communications.

The group has offices in Abu Dhabi, Beijing, Brisbane, Bristol, Canberra, Cardiff, Edinburgh, Hong Kong, London, Manchester, Melbourne, Perth, Shanghai, Singapore and Sydney.

The brands and companies it owns are Newgate Communications, Redleaf Communications, Publicasity and 2112 Communications.

Porta Communications' corporate website is www.portacomms.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

IOEXZLFLVZFXBBQ

(END) Dow Jones Newswires

April 24, 2018 10:10 ET (14:10 GMT)

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